Transition from iDEAL to Wero Payment System Expected to Extend into 2026

The shift from iDEAL to the Wero payment system is expected to continue until early 2026, as stated by Currence CEO Daniel van Delft in an interview with De Stentor. Originally, the goal was to complete the transition by 2025, but the CEO mentioned that the deadline could still be subject to change.

Van Delft confirmed to De Stentor that Wero will be introduced in the Netherlands, stating, "Once the Dutch ecosystem is prepared for the switch, Wero will be implemented in our country." He expressed regret over the phasing out of iDEAL but emphasized that Wero will offer a more advanced system to cater to consumers.

The European Payments Initiative (EPI) took over iDEAL from Currence in October 2023. Currence, founded in 2005 by eight Dutch banks including ING, ABN AMRO, and Rabobank, is also a member of EPI. The acquisition is part of EPI's plan to establish a comprehensive European payment platform that will also serve as a digital identity platform, known as Wero.

Initially, Wero will be introduced in Belgium, France, and Germany before coming to the Netherlands. EPI also acquired Payconiq at the end of 2023, a Luxembourg-based company responsible for the technology behind iDEAL and the Belgian Bancontact payment system. Introduced in 2005, iDEAL has become a popular choice for online payments in the Netherlands, with 70% of online purchases being made using the service. In 2022, over a billion transactions were processed through iDEAL. Starting in April, consumers will have the option to create iDEAL profiles for use on various online platforms.